Beta Wealth Group Inc. Acquires 406 Shares of Citigroup Inc. (NYSE:C)

Beta Wealth Group Inc. boosted its stake in Citigroup Inc. (NYSE:C) by 4.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,621 shares of the company’s stock after purchasing an additional 406 shares during the period. Beta Wealth Group Inc.’s holdings in Citigroup were worth $540,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in C. POM Investment Strategies LLC bought a new stake in shares of Citigroup during the 2nd quarter valued at about $25,000. Northwest Investment Counselors LLC bought a new stake in shares of Citigroup during the 3rd quarter valued at $28,000. Beacon Capital Management LLC increased its holdings in shares of Citigroup by 85.5% during the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after acquiring an additional 212 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Citigroup during the 2nd quarter valued at about $31,000. Finally, Triad Wealth Partners LLC bought a new stake in Citigroup during the 2nd quarter valued at about $32,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. The Goldman Sachs Group decreased their price target on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Evercore ISI lifted their price target on shares of Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 16th. Oppenheimer boosted their target price on shares of Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a research note on Tuesday. Barclays raised their target price on Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Bank of America boosted their price objective on shares of Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $72.06.

Citigroup Stock Up 0.8 %

Shares of NYSE:C opened at $68.63 on Friday. The firm has a market capitalization of $130.93 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 0.69 and a beta of 1.44. The business has a 50 day simple moving average of $62.42 and a two-hundred day simple moving average of $62.36. Citigroup Inc. has a 1 year low of $41.28 and a 1 year high of $70.09. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.94.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. The firm had revenue of $20.32 billion during the quarter, compared to analyst estimates of $19.86 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The business’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.52 earnings per share. On average, equities analysts predict that Citigroup Inc. will post 5.87 EPS for the current year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th will be issued a $0.56 dividend. The ex-dividend date is Monday, November 4th. This represents a $2.24 annualized dividend and a dividend yield of 3.26%. Citigroup’s dividend payout ratio is currently 64.93%.

Citigroup Company Profile

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.